Adobe Photoshop Extended can import and manipulate 3D models (3D objects) in several popular formats like,
.3ds (3ds Max)
.dae (Digital Asset Exchange, COLLADA)
.kmz (compressed Keyhole Markup Language format, Google Earth)
.obj (common 3D object format)
.u3d (Universal 3D)
Once you import the object inside of Photoshop and save it as PSD file, you can then use Live Photoshop 3D effect in After Effects and get full control over 3D object. In this tutorial we will take look at both AE an PS.
This is a quick video showing off mesh-based PhysX cloth running in Torque3D. These cloth objects were created from a simple sphere mesh, loaded directly from a standard Torque ready Collada or DTS file.